Category: Buying

Tips to make your real estate buying experience a smooth one

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Buying Neighborhood News Pinecrest

7645 SW 117 Street, Pinecrest, FL is in a Great Location

7645 SW 117 Street, Pinecrest, FLYou know what they say about real estate: location, location, location.  Well this house is walking distance to shops, restaurants, places of worship, parks and public transportation!

Located off of 77 Ave., a main North/South corridor in Pinecrest, 7645 SW 117 Street is a perfect place to call home.

  • 4 bedroom/2 bath
  • builder’s acre
  • accordian hurricane shutters
  • new hardwood floors
  • chickee hut

The Village of Pinecrest, known for its parks, schools, large lots and quiet life-style has always been popular with families, couples and individuals who enjoy their space and privacy yet want to live close to activities.

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Buying Investment Real Estate Pinecrest

Unbelievable Land Value in Pinecrest, FL – 7935 SW 134 Street- Builder's Acre Under $550,000

This beautiful builder’s acre is located on a quiet, low-traffic street in South Pinecrest.  A house sits on the property, bucciero-land-resizedwaiting for you to continue the updates or tear it down and build new.  Take advantage of the current market; it has been a while since land value in Pinecrest was this low.   The Village of Pinecrest is a highly desirable neighborhood with may parks, great schools, a community center and library.

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Buying Investment Real Estate Pinecrest

Unbelievable Land Value in Pinecrest, FL – 7935 SW 134 Street- Builder’s Acre Under $550,000

This beautiful builder’s acre is located on a quiet, low-traffic street in South Pinecrest.  A house sits on the property, bucciero-land-resizedwaiting for you to continue the updates or tear it down and build new.  Take advantage of the current market; it has been a while since land value in Pinecrest was this low.   The Village of Pinecrest is a highly desirable neighborhood with may parks, great schools, a community center and library.

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Buying

Buying a Home? Know What You are Looking For

I know it sounds obvious, but knowing what you are looking for isn’t always as simple as it sounds.  Once you are pre-approved for a mortgage, decide what your ideal neighborhood and home would be.  Are schools important or is it more important that you be close to work?  Determine what the “must haves” are.  These are the specifics of the property or neighborhood that you are not willing to give up but would be willing to sacrifice a “nice, but not necessary” for.  This could be an extra bedroom, pool, specific school district, waterfront criteria etc.  Knowing what you are looking for both in a neighborhood and home  is extremely important as it will help keep you focused.  Once you narrow down your wants, you will realize you don’t have to look at everything on the market, only those specific properties that meet your criteria.

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Buying Mortgage information

Buying a Home? Get Pre-Approved For a Mortgage

The first and most important step in buying a home is to get pre-approved by a lender for a mortgage.  This can be directly from a bank or credit union you do business with or through a mortgage broker.   Getting pre-approved will let you know how much house you can afford or, better yet, how much of a house you feel comfortable with.  The lender or mortgage broker will give you an idea of what your monthly costs will be and will give you a TRID form, which gives you an idea of closing costs to let you know how much money you will need to bring to the closing table to finalize your purchase.

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Buying Mortgage information

5 Criteria You Must Meet to Qualify For a Jumbo Loan in Miami, Florida

So, you have decided to get off the fence, take advantage of the steep price decreases and finally buy your dream home.  You have surfed the Internet, looked at pictures, maybe even settled on a neighborhood.  STOP!  Before you go any further you need to talk to a mortgage broker and find out if you could get a mortgage.  As you have read in the papers, the banks are not handing out money very easily.

Jumbo Loan

  • Any loan mortgage over $417,000 is considered a jumbo loan.
  • The minimum down payment required is 30%.
  • You will be required to provide your last two years tax returns.
  • Your credit score will need to be at least 720.
  • You can lower your rate by 1/4% if you go through EWM mortgage and have a bank account with Wachovia.

Stay tuned for information on other types of mortgages.

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Buying

Why Homeownership is Like Drinking Red Wine

Both are good for your health! According to a recent U.S. News & World Report article there are more than just economic benefits in owning your own home. "People have more extensive social support systems, and that has a potential positive impact on health," according to William Rohe, professor of city and regional planning at the University of North Carolina. Although the individual health benefits of homeownership are unclear and other factors such as education and income level may come into play, there is proof that homeownership is good for children, because it provides stability, and the community because homeowners have a reason to invest in their community through voting, philanthropy, and volunteering.

Like the health benefits of wine, however, the benefits of homeownership can turn into liabilities if you overindulge. Too much wine on a short-term basis can cause a nasty hangover and in the long run can lead to liver damage. Kind of feels like today’s real estate market.

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Buying Coral Gables Neighborhood News

Coral Gables, Florida Real Estate – Annual Market Summary 2008

Single Family Homes

  • 2% increase in sales of single family homes from 2007 to 2008.
  • Total sales of single family homes increased from 318 in 2007 to 325 in 2008.
  • If you average the number of homes sold in the last quarter of 2008, there is still a 23 month supply of single family homes for sale in Coral Gables.

The median price for a single family home in December was $542,000, down from $788,000 in December 2007.

Condos

  • The number of sales of condos decreased 19% from 2007 to 2008 from 141 to 114.
  • There is 37 month inventory of condos.
  • The median price in December 2008 was $250,000 down from $1,005,000 in December 2007.

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Buying Investment Real Estate

8 Reasons Why Now is the Perfect Time to Buy Real Estate

Okay, so things are scary out there. You can’t open a paper, turn on the t.v. or listen to the radio without hearing doom and gloom news. Layoffs, no one is shopping, increasing unemployment, the stock market fluctuates wildly. But, since people are scared and aren’t buying much of anything, it is the perfect time to buy real estate. As Warren Buffet once said, “…attempt to be fearful when others are greedy and to be greedy only when others are fearful.” Reasons now is the time to be greedy:

Continue reading “8 Reasons Why Now is the Perfect Time to Buy Real Estate”

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Buying Investment Real Estate

8 Reasons Why Now is the Perfect Time to Buy Real Estate

Okay, so things are scary out there. You can’t open a paper, turn on the t.v. or listen to the radio without hearing doom and gloom news. Layoffs, no one is shopping, increasing unemployment, the stock market fluctuates wildly. But, since people are scared and aren’t buying much of anything, it is the perfect time to buy real estate. As Warren Buffet once said, “…attempt to be fearful when others are greedy and to be greedy only when others are fearful.” Reasons now is the time to be greedy:

Continue reading “8 Reasons Why Now is the Perfect Time to Buy Real Estate”